Banks: meaning, definitions and examples

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banks

 

[ bรฆล‹ks ]

Noun
Context #1 | Noun

financial institution

Banks are financial institutions that accept deposits from the public, create credit, and provide loans. They play a crucial role in the economy by facilitating transactions and providing services to individuals and businesses.

Synonyms

credit union, financial institution, savings and loan

Examples of usage

  • She deposited her paycheck at the bank.
  • The bank offered a variety of loan options.
  • He went to the bank to open a savings account.
  • Many banks provide online banking services.
Context #2 | Noun

physical site

A bank can also refer to a physical site where transactions are conducted. These are typically characterized by their buildings where customers can visit for various banking services.

Synonyms

branch, location, office

Examples of usage

  • The new bank opened its doors last week.
  • We needed to find a bank that was open on Saturday.
  • I met her at the bank to discuss our finances.

Translations

Translations of the word "banks" in other languages:

๐Ÿ‡ต๐Ÿ‡น bancos

๐Ÿ‡ฎ๐Ÿ‡ณ เคฌเฅˆเค‚เค•

๐Ÿ‡ฉ๐Ÿ‡ช Banken

๐Ÿ‡ฎ๐Ÿ‡ฉ bank

๐Ÿ‡บ๐Ÿ‡ฆ ะฑะฐะฝะบะธ

๐Ÿ‡ต๐Ÿ‡ฑ banki

๐Ÿ‡ฏ๐Ÿ‡ต ้Š€่กŒ

๐Ÿ‡ซ๐Ÿ‡ท banques

๐Ÿ‡ช๐Ÿ‡ธ bancos

๐Ÿ‡น๐Ÿ‡ท bankalar

๐Ÿ‡ฐ๐Ÿ‡ท ์€ํ–‰

๐Ÿ‡ธ๐Ÿ‡ฆ ุจู†ูˆูƒ

๐Ÿ‡จ๐Ÿ‡ฟ banky

๐Ÿ‡ธ๐Ÿ‡ฐ banky

๐Ÿ‡จ๐Ÿ‡ณ ้“ถ่กŒ

๐Ÿ‡ธ๐Ÿ‡ฎ banke

๐Ÿ‡ฎ๐Ÿ‡ธ bankar

๐Ÿ‡ฐ๐Ÿ‡ฟ ะฑะฐะฝะบั‚ะตั€

๐Ÿ‡ฌ๐Ÿ‡ช แƒ‘แƒแƒœแƒ™แƒ”แƒ‘แƒ˜

๐Ÿ‡ฆ๐Ÿ‡ฟ banklar

๐Ÿ‡ฒ๐Ÿ‡ฝ bancos

Etymology

The word 'bank' originates from the Italian word 'banco', meaning 'bench'. This was because moneylenders used to conduct their business on benches in public places. The term spread throughout Europe, leading to the establishment of formal banks in the late Middle Ages. Originally, banks were used for the exchange of currency and the safekeeping of money. By the 17th century, the concept of a bank as a place to deposit funds and obtain credit became more formalized. The evolution of banking has continued, reflecting the growth of commerce, trade, and later, modern financial systems. The establishment of central banks further solidified the role of banks in managing the economy.

Word Frequency Rank

Positioned at #1,234, this word is part of core intermediate vocabulary. It appears regularly in various contexts and is essential for natural-sounding English.